https://www.taxtmi.com/caselaws?id=176369 The tribunal partially allowed the appellant's appeal on travelling expenses, treating expenses related to trading activities as revenue expenditure and those related to machinery purchases as capital expenditure. It dismissed the appeal on car-related expenses, maintaining the 1/10th disallowance due to personal use. The tribunal ruled in favor of the appellant on the treatment of seized cash, directing its adjustment against advance tax, thereby reducing interest under section 234B. en-us Fri, 13 Feb 2009 00:00:00 +0530 Sat, 28 Oct 2023 10:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176369 The tribunal partially allowed the appellant's appeal on travelling expenses, treating expenses related to trading activities as revenue expenditure and those related to machinery purchases as capital expenditure. It dismissed the appeal on car-related expenses, maintaining the 1/10th disallowance due to personal use. The tribunal ruled in favor of the appellant on the treatment of seized cash, directing its adjustment against advance tax, thereby reducing interest under section 234B. Case-Laws Income Tax Fri, 13 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176369